Q3 2025 Fluor Corp Earnings Call Transcript
Key Points
- Fluor Corp (FLR) reached a major milestone with its investment in NuScale, converting its remaining investment into Class A shares and planning to monetize these shares by Q2 2026.
- The company reported a significant increase in new awards for Urban Solutions, totaling $1.8 billion, reflecting strong growth in mining and metals projects.
- Fluor Corp (FLR) achieved RFSU on Train 2 at LNG Canada, marking a significant milestone in one of its largest and most complex projects.
- The company reported strong cash flow generation, with operating cash flow for the quarter at $286 million, driven by reduced working capital and distributions from joint ventures.
- Fluor Corp (FLR) increased its 2025 adjusted EBITDA guidance to $510 million to $540 million and adjusted EPS guidance to $2.10 to $2.25, reflecting strong performance excluding the Santos charge.
- Fluor Corp (FLR) reported a segment loss of $533 million in Energy Solutions due to a $653 million court ruling related to the Santos project in Australia.
- The company experienced delays in new awards due to trade and policy uncertainty, impacting its 2025 new awards and backlog growth.
- Fluor Corp (FLR) faced challenges in infrastructure projects, with ongoing efforts to pursue cost recoveries and change orders from clients and subcontractors.
- The company noted that external factors have caused a roughly four-quarter shift in EBIT delivery, impacting its strategic growth targets.
- Fluor Corp (FLR) reported a $400 million mark-to-market loss related to its investment in NuScale, impacting its financial results for the quarter.
Good morning and welcome to Fluor's third quarter 2025 earnings conference call. Today's call is being recorded. (Operator Instructions) A replay of today's conference call will be available at approximately 10:30 AM Eastern Time today, accessible on Fluor's website at investor.fluor.com. The web replay will be available for 30 days. A telephone replay will also be available for seven days through a registration link also accessible on Fluor's website at investor.fluor.com.
At this time for opening remarks, I would like to turn the call over to Jason Landkamer, Vice President, Investor Relations. Please go ahead, Mr. Landkamer.
Thanks, Ian. Good morning, everyone, and welcome to Fluor's 2025 third quarter earnings call. Jim Breuer, Fluor's Chief Executive Officer; and John Regan, Fluor's Chief Financial Officer, are both with us today. Fluor issued its third quarter earnings release earlier this morning, and a slide presentation is posted on our website that we will reference while making
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